IF there's a #60million winner-takes-all play off final in store for one of these two in a fortnight's time then on this evidence they should up the ante.

How much were those TV rights again? If there were games like this in the Premiership then whatever's on the table simply isn't enough.

A breathtaking afternoon amid the sodden Molineux downpours once again showed just how much life exists below the top-flight, and the best thing is there's a second leg still in store.

For Wolves though that may not be enough, as despite a blistering display packed with energy and vitality they were ultimately undone by Albion's superior finishing.

And, as in the recent almost identical rollercoaster derby with Blues, they came from behind to lead only to once again fall at the final hurdle.

To a certain extent it was a tale of two keepers as Wolves agonisingly lost Matt Murray to a cruelly-timed broken shoulder 24 hours before kick-off while Albion's Dean Kiely performed heroics with several impressive saves to keep the Molineux men at bay.

Mick McCarthy's post-match "well played Deano" to the man he awarded a Republic of Ireland debut must have been tinged with despair.

Wolves wouldn't dream of using Murray's latest undeserved misfortune as an excuse, and in Wayne Hennessey they have a 20-year-old keeper of whom great things are expected.

If it was a real baptism of fire for the young Welshman it didn't show, but while there is perhaps a slight question mark over Kevin Phillips's second goal, he could certainly do little about Albion's other two.

And for the first 20 minutes Hennessey was little more than a bystander as Wolves belied any psychological wounds caused by the absence of the Championship's top keeper by bursting forward with pace and poise.

Yet for all the speed and movement involved in their approach play, they just couldn't find the finishing touch to make it count.

Michael Kightly was played in by Andy Keogh in the seventh minute but saw his clipped shot in the first stage of Kiely's excellent afternoon's work and Keogh's follow-up hanging cross saw Michael McIndoe foul Paul McShane at the far post.

Two corners then yielded Wolves further opportunities as Seyi Olofinjana had a header cleared off the line by Robert Koren and Neill Collins headed wide as the home side pressed Albion onto the back foot.

But as so often happens, when a goal doesn't arrive the momentum is lost and Albion reaped the rewards of their early resilience by breaking the deadlock on 25 minutes.

And once again it was the experience of Phillips who showed his opposite numbers how to finish with another superb strike to register his 20th goal of the season.

Hennessey had dealt reasonably well with his only action of note, taking a low Jason Koumas cross, but he was unable to keep out Phillips's piledriver after the hitman latched onto to a clearance from Gary Breen which didn't carry enough punch.

As so often this season, Wolves barely even noted the disappointment of going behind, and a glut of further chances - the best of which saw Kightly denied by Kiely in identical circumstances - was climaxed with Jody Craddock emphatically heading home Keogh's cross a minute before half time.

The rollercoaster was back up and running, not least as Albion should have regained the lead either side of the break, Paul Robinson heading wide with the goal at his mercy and Diomansy Kamara stretching his legs for the first time only to fire wide of the target.

But it was Wolves who were next to scale the peaks, as after another fine Kiely save to block Jay Bothroyd's free kick Albion failed to clear and Olofinjana popped up to finish off a scramble in the 52nd minute.

Molineux was rocking, Albion's lead had been not only wiped out but also turned around, but unfortunately from a Wolves point of view the elation lasted for only 95 seconds.

Derby day specialist Phillips was somehow left unmarked at the far post from Darren Carter's corner, and made no mistake to beat Hennessey with another clinical example of the goalscorer's art.

And it proved far more than an equaliser because from there Wolves were deflated. Having run themselves silly it was back to square one, all level, and having dipped into their reserves of character Albion then started to play their football.

Kamara may not have blitzed the Wolves back-line as regularly as in the three other Black Country derbies this season, but he only needed one chance, breaking a poorly-set offside trap to latch onto Robinson's pass and find the corner of the net with considerable aplomb.

Wolves briefly rallied, but Kiely was again up to the task to beat out another Bothroyd drive and palm Kightly's injury time shot around the post, making it advantage Albion heading into the second leg.

Defensive frailties at both ends could well make for an equally exciting second leg at a packed Hawthorns, and is why the Baggies faithful will not yet be counting any chickens.

But the fact that no team in Championship history has ever won a play-off semi-final having lost the first leg at home leaves Wolves in need of making history to keep their Wembley dream alive.